PORTLAND, Ore., Jan. 27, 2022 /PRNewswire/ — Allied Market Research revealed a report, titled,”Men’s Hair Care and Styling Products Market by Product Type (Hair Care and Styling Products), Distribution Channel (Supermarkets, Convenience Stores, Specialty Stores, E-commerce, and Others: Opportunity Analysis and Industry Forecast, 2021–2030.”According to the report, the worldwide males’s hair care and styling merchandise business generated $40.43 billion in 2020, and is estimated to attain $54.75 billion by 2030, witnessing a CAGR of three.3% from 2021 to 2030.
Drivers, Restraints, and Opportunities
Increase in instances of hair fall, improvements in haircare & styling merchandise, growth of media & leisure business, and surge in prominence of non-surgical remedy drive the expansion of the worldwide males’s hair care and styling merchandise market. However, surge in competitors that escalates the strain concerning pricing and rise in buyer issues about dangerous elements used within the product hinder the market progress. On the opposite hand, rise in on-line purchasing and improve in consciousness about natural and natural variantspresent new alternatives within the coming years.
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Covid-19 Scenario
Manufacturing actions of hair care & styling merchandise halted due to lockdown measures carried out throughout many international locations. In addition, disruptions in provide chain and scarcity of uncooked supplies introduced challenges in finishing up manufacturing actions with full capability.
The lockdown measures led to closure of distribution channels corresponding to supermarkets, comfort shops, and specialty shops. However, the distribution actions are anticipated to get again on monitor post-lockdown. The demand would additionally develop steadily post-lockdown.
The ban on import-export actions led to provide chain disruption and supply-demand hole. As the restrictions are lifted off, the availability chain might be restored.
The hair care phase to keep its lead place throughout the forecast interval
Based on product sort, the hair care phase held the best share in 2020, contributing to practically three-fifths of the worldwide males’s hair care and styling merchandise market, and is predicted to keep its lead place throughout the forecast interval. This is attributed to rise in prevalence of hair fall, consciousness concerning hair harm, and improve within the prevalence of alopecia amongst individuals. However, the styling merchandise phase is projected to painting the best CAGR of 4.4% from 2021 to 2030, owing to improve in adaption of recent and trendy merchandise and modifications in shopper preferences.
The supermarkets phase to proceed its management standing throughout the forecast interval
Based on distribution channel,the supermarkets phase contributed to the best share in 2020, accounting for greater than one-fourth of the worldwide males’s hair care and styling productsmarket, and is estimated to proceed its management standing throughout the forecast interval. This is due to ease in accessibility and availability of merchandise at aggressive costs.However, the e-commerce phase is predicted to manifest the quickest CAGR of 4.5% from 2021 to 2030. This is attributed to the elevated penetration of web and development of on-line purchasing in growing areas.
Asia-Pacific, adopted by Europe and North America, to provide profitable alternatives
Based on area, Asia-Pacific, adopted by Europe and North America, accounted for the most important market share in 2020, holding round two-fifths of the worldwide males’s hair care and styling merchandise market, and is projected to keep its dominant share when it comes to income by 2030. Moreover, this phase is predicted to painting the quickest CAGR of 4.2% throughout the forecast interval. This is due toincrease in adoption of the western tradition and revolutionary merchandise amongst shoppers.
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Leading Market Players
American Crew
Baxter of California
Jack Black
Harry’s
Malin+Goetz
Hanz de Fuko
Dove Men
Redken Brews
Old Spice
Axe
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